HKMU
Research Development and
Consultancy Limited

HKMU Startup Fund (Acceleration Programme)
Application Guidelines and Form

(English version only 只備英文版本)

1. About the HKMU Startup Fund (Acceleration Programme)

The HKMU Startup Fund (Acceleration Programme) is designed to support dedicated young HKMU startups with the potential for growth and scalability. The programme offers financial investment of up to HK$1 million for each selected startup, to enhance their business operations and development.

2. Target Companies

Preference will be given to companies that demonstrate business traction, including products / services development, revenue generation, customer expansion, promotion strategies and market growth, alongside proven commitment from the founding team. Companies offering products / services based on HKMU's intellectual property and / or aligned with HKMU's strategic goals will also have an advantage.

The applicant must be a limited liability company incorporated under the HKSAR Companies Ordinance for normally not more than ten years as of the date of application.

The management team of the applicant must consist of a Person-in-Charge (PIC) who is associated with HKMU in the following capacity at the time of application:

full-time or part-time HKMU student who have already obtained at least 15 credits for their study programmes as of the date of application;
full-time or part-time HKMU academic or R&D staff; or
HKMU alumna / alumnus who has graduated for normally not more than ten years. Alumna / alumnus who has graduated for more than ten years with solid business or entrepreneurship experience may also be considered.

The PIC shall represent the applicant in liaising with HKMURDC in respect of the Acceleration Programme application. The PIC must be a founder of the applicant, actively involved in the applicant's management, operations and development and maintain a significant ownership, such as holding at least 20% of the total issued share capital of the applicant.

The PIC / and other core team member(s) of the applicant should not be associated (whether by way of share ownership, cooperation arrangement, management role, advisory role or otherwise) with other applicants, unless otherwise approved by HKMURDC. Full disclosure should be made in respect of the interest of any full-time or part-time HKMU staff in the applicant.

3. Funding Arrangements

Upon approval, an investment of up to HK$1 million may be made in an appropriate format, which includes, but is not limited to, a Simple Agreement for Future Equity (SAFE).

The investment amount allocated to each selected startup may vary based on the recommendations provided by the selection panel. HKMURDC reserves the right to make the ultimate decision on funding amount and support provided.

The startup company shall apply the investment for:

operating expenses such as staffing, training, rental, management fees, legal services, accounting services, and other daily office expenses;
expenditures directly related to the development, implementation, marketing, and commercialisation of the proposed products and / or services; and
essential office equipment.

The investment fund must not be used to pay off any of the debts of the startup company. The startup company is required to submit periodic financial reports to HKMURDC for review.

HKMURDC reserves the right to send representatives as independent advisors / observers to the board of directors of the startup company.

4. Application Procedures

Applicants should submit a completed online application form together with the following supporting documents:

A 5-min pitching video (Click HERE for the video pitching guidelines);
A pitch deck in English including, but not limited to, an executive summary, brief of the business, industry analysis, market analysis, marketing strategy, brief of the products and / or services, organisational structure, operational plan, contribution to the society, financial forecast, and key milestones (Click HERE for the pitch deck template);
CVs of PIC and team member(s) (Click HERE for the CV template);
Certificate of Incorporation (CI);
Hong Kong Business Registration Certificate (BR);
A copy of student card (for current student) or graduation certificate (for alumni) of PIC for proof of association with HKMU;
A copy of latest academic transcript (for current student who will serve as the PIC);
Company's latest audited financial statements (if any);
Latest annual return submitted to the Companies Registry (if any); and
A list of funding support from the government and / or other third-party investors, collaborating organisation(s) and the project title(s), award(s) and recognition(s), or any other substantial achievement(s) (if any). Supporting documents may be required if the startup company is selected.

5. Evaluation and Selection Procedures

Eligibility Screening

All applications will undergo an eligibility screening and shortlisting process based on the material received.

Selection Panel

Shortlisted applicants will be invited to an interview with a selection panel, where they will present their projects and respond to questions. The panel, comprising representatives from HKMU and experienced professionals from various industries, will evaluate the teams based on their presentations and any supporting materials. These evaluations will inform the final investment decisions.

Interview Process

The Selection Panel will evaluate the proposals using the following criteria:

Innovation and creativity;
Business model and commercial viability;
Team composition and strengths;
Stage of development (e.g. research and development, prototyping, commercialisation stage); and
Potential impact on industry and society.

Due Diligence

All selected applicants must provide full disclosure and actively collaborate to facilitate thorough due diligence. Unsatisfactory results will render withdrawal of any investment decision.

6. Post-investment Review and Management

While each invested startup is required to provide HKMURDC with an annual written update, HKMURDC or its appointed representatives shall convene regular meetings to stay abreast of their latest developments, business and financial situations, and to explore joint business or promotion opportunities.

7. Right of HKMURDC

HKMURDC reserves the right to make final decisions regarding the implementation of, or changes to the Acceleration Programme and all associated activities.

8. Tentative Schedule

	January 2025	June 2025
Application Deadline	31 January 2025 12:00 Noon	27 June 2025 12:00 Noon
Pitching / Interview	March 2025	September 2025
Result Announcement	April 2025	October 2025